Pour white wine and red wine into a large stainless steel or enamel saucepan.

Add vermouth, bitters, orange peel, cloves, cinnamon, and cardamon pods. Heat wine mixture gently until very hot but do not boil. Remove saucepan from heat, cover with a lid and cool. Strain wine into a bowl.

Just before serving, return wine to a clean saucepan. Add raisins and sugar. Heat gently until sugar is dissolved and wine is hot enough to drink. Add fruit slices and serve in heatproof mugs. Make 16 servings.